First Solar, Inc. $FSLR Stock Position Decreased by Oakworth Capital Inc.

Oakworth Capital Inc. decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,413 shares of the solar cell manufacturer’s stock after selling 269 shares during the quarter. Oakworth Capital Inc.’s holdings in First Solar were worth $1,558,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of First Solar during the 1st quarter worth $114,730,000. Canada Pension Plan Investment Board boosted its holdings in First Solar by 16,857.8% in the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock worth $95,965,000 after purchasing an additional 754,557 shares in the last quarter. Invesco Ltd. increased its position in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock worth $306,909,000 after buying an additional 592,444 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in First Solar by 22,107.8% during the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock valued at $64,802,000 after buying an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP lifted its position in shares of First Solar by 59.4% in the first quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock worth $171,313,000 after buying an additional 505,000 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $220.02 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The business’s fifty day moving average price is $196.64 and its two-hundred day moving average price is $165.07. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. First Solar had a net margin of 28.95% and a return on equity of 15.57%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company earned $3.25 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. As a group, analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSLR. Susquehanna increased their price objective on First Solar from $203.00 to $222.00 and gave the company a “positive” rating in a report on Friday, August 1st. TD Cowen increased their price target on First Solar from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group set a $194.00 price target on shares of First Solar and gave the company a “buy” rating in a research report on Tuesday, July 15th. Mizuho upped their price objective on shares of First Solar from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.80.

Insiders Place Their Bets

In other news, CEO Mark R. Widmar sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at $16,326,357.84. The trade was a 2.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,315 shares of company stock valued at $6,021,305. 0.48% of the stock is currently owned by insiders.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.